Authority: National Company Law Appellate Tribunal, Chennai Bench (Justice N Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 28 September 2026
Case Overview
The order pertains to nine consolidated company appeals (AT)(CH)(Ins) Nos. 369, 442, 461, 462, 464, 467, 468, 469, and 474 of 2026 filed by multiple appellants from the Bhatia family against The Assistant General Manager, State Bank of India & Another. The appellants are Amandeep Singh Bhatia, Kulwant Singh Bhatia, Ishpal Kaur Bhatia, Gurvinder Singh Bhatia, Gurvinder Kaur Bhatia, Veena Bhatia, Manjeet Singh Bhatia, Surinder Singh Bhatia, and Inderjeet Singh Bhatia. The proceedings involve challenges to the bank's claims against them as personal guarantors. The bank's counsel, Mr. ML Ganesh, argued that despite an affidavit dated 12 February 2025, the personal guarantors remain liable as outstanding amounts are still due. He sought time to produce the statement of accounts to substantiate the outstanding dues.
Final Outcome
The Tribunal adjourned all appeals to 17 November 2026 at 12:00 pm for further hearing. Any interim orders previously granted by the Tribunal were directed to continue operating until the next date of listing.
Topics: Personal Guarantor Liability, Bank Debt Recovery, NCLAT Proceedings